• Canon average quick ratio for 2023 was 0.94, a 13.76% increase from 2022.
• Canon average quick ratio for 2022 was 1.09, a 7.92% decline from 2021.
• Canon average quick ratio for 2021 was 1.01, a 7.34% increase from 2020.

Quick ratio can be defined as a liquidity ratio that measures a company's ability to pay short-term obligations. It is calculated by subtracting inventory from current assets and dividing by current liabilities.